Legislation               Insurance Law 1979 amendments

Supervisory Jurisdiction  Financial Services Supervision Department

Application to            Superintendent of Insurance

Data includes             Business Plan (3 years), details of 
                          insurance manager, auditor, shareholders 
                          and directors and officers

Reporting Requirements    Annual audited accounts, Certificate of 
                          Compliance

Restriction on Business   Categorised licences

Capitalisation            Property and casualty (min.)    US $120,000
                          Long term (life) (min.)         US $240,000
                          General/both (min.)             US $360,000

Minimum Solvency          Net worth must be maintained above initial 
                          capital requirements. Generally maximum 5:1 
                          ratio premium to capital by convention

Fees                      Incorporation                       US $700
                          Annual                            US $6,200
                          Plus management, legal and audit

Currency                  CI $ = US $1.20

Taxation                  Nil

Location                  Caribbean - 500 miles south of Miami

For further information contact Jenny Hill tel: +44 (0) 171 488 8866, fax: +44 (0) 171 488 8968 or visit the Willis Corroon web site, at Click Contact Link , or enter a text search 'Willis Corroon' and 'Business Monitor'.